As one navigates through the complex post pandemic world, one can see a change in the dynamics for most countries in their financial operations, right from their monetary policy frameworks to their trade guidelines. There is a powerful shift in their internal commerce, with the setting up of conservative and stringent fiscal measures to revive the local economy. India is no different. The futuristic and robust ‘Atmanirbhar Bharat’ campaign presents a great scope for the chemical industry, and it is a period of radical reforms, that can be a turning point not just for the Indian chemical sector in its domestic markets, but also in international waters.
The chemical industry is central to economic growth since it converts raw materials (such as oil, natural gas, minerals, etc.) into products used extensively in daily life. Hence, it plays a vital role in the economic development of a country and the quality of life enjoyed by its people. The chemical sector today manufactures about 90,000 products for a plethora of industries ranging from agrochemicals, textiles, construction, polymers, surfactants, nutraceuticals, to F&F and the consumer industry to name a few.
An extensive report on the industry by McKinsey and Co. found that between 2006 and 2019, the compound annual growth rate (CAGR) in TRS for India’s chemical companies stood at 15 percent—a figure much higher than the global chemical-industry return, with a CAGR of 8 percent, and the overall global equity market, with a CAGR of 6 percent.
Even when one takes into account the staggering displacement caused by the pandemic, there is no reason to worry, as the report observes that between 2016 and 2019 when India’s economy faced headwinds, the chemical industry maintained a CAGR of 17 percent. This is an extremely positive indicator of the future of the sector’s prospects, and the global pathway for the Indian chemical segment.
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More Laboratories Access to Mass Spectrometry
Direct MS system quickly analyzes samples requiring minimal prep or expertise to help improve operational efficiencies and competitiveness
Growing with pride!
Although the current market share of Gourav Luminaries (P) Ltd is very insignificant, the Company is growing at more than 28 percent YOY basis while the market is growing at 11.8 percent. With every passing day, Gourav is increasing its market share, says its CEO, Gaurav Khanna.
Playing it right
The industry is just evolving in India and the recent focus on promoting domestic manufacture of toys will go a long way in faster development of the market in India, says R. Jeswant, CEO, Funskool India
Scaling up dreams!
Domestic demand for finished rubber products has picked up well and the order books are looking good, says V.T. Chandhrasekharan, President – All India Rubber Industries Association (AIRIA)
Building on a legacy with pride
The debate shouldn’t be about more or less packaging. It should be about how we make packaging smarter and more sustainable; packaging that considers the environmental, social and governance aspects of sustainability.
Netting it Right!
Application focussed solution provider strategy is certainly helping the organization to serve the customers better and thereby have better margins, says Shujaul Rehman, CEO, Garware Technical Fibres Ltd (GTFL)
Enabling transformation in business strategies
Global synchronisation is necessary to aid establishments redefine their supply chain competences to generate and maintain a rapid retort and suppleness creating intelligent supply environments.
Customer oriented engineering
While technological innovations are prevalent in most aspects of our daily life, Industry 4.0 in the packaging industry makes enterprise activities to be more data-driven, says Ajay Tandon, President - Engineering & New Product Development, UFlex
Back in Business!
Be it medical, household, or PET, the demand for plastics is back, says Deepak Pahwa, Managing Director, Bry-Air (Asia)
Blockchain Traceability Project
A blockchain supply chain transparency provider has recently launched a project with a car manufacturer and its material suppliers to enable the traceability of plastics on blockchain and to ensure that the use of sustainable materials in the cars can be proven.
YOGA & PEACE
DEEPAK CHOPRA speaks with DAAJI about the role Yoga has to play in bringing about world peace. This is an excerpt from their conversation broadcast on International Day of Peace, September 21, 2020. That documentary is available at https://heartfulness.org/en/international-day-of-peace/.
Create the habit of meditation
CHIRAG KULKARNI, Co-Founder and CMO of Medly Pharmacies in the USA, speaks with RISHIKA SHARMA about creating a regular meditation practice, so as to make it a habit. He also shares how meditation has benefited both his personal and professional life.
SHIA'S PRIVATE TEMPLE OF DOOM!
Indiana Jones gig derailed by abuse scandal
"Food Raconteur” Ashok Nageshwaran wants to tell you a story.
THE MAKING OF A MODEL MINORITY
Indian Americans rarely stop to ask why our entrance into American society has been so rapid—or to consider what we have in common with other nonwhite Americans.
In 2017, DR. VANDANA SHIVA spoke with KIM HUGHES about the sacredness of the Earth, the work she has been doing to bring awareness and change in the field of sustainable agriculture, and the importance of understanding our interconnectedness with Nature, and how we can change the way we eat.
DIAMONDS - A Luxury Gem Steeped in Fact & Fable
The diamond is one fabled gemstone! For example, google “Hope Diamond” to see all the legends associated with just this one stone said to bring misfortune to its owners.
Brown Sugaa and Medusa
Brown Sugaa and Medusa
CHINA DEMANDS INDIA RESCIND APP BAN AMID BORDER TENSION
China on Wednesday demanded India rescind a ban on more Chinese mobile phone apps amid tension between Beijing and other governments over technology and security.